New research by Affirm reveals three in five Americans believe the U.S. is in a recession, though it’s not officially declared. A survey of 2,000 people shows inflation and rising living costs (68%) as the main reasons for this belief, followed by complaints from friends and family (50%), reduced spending by peers (36%), and difficulties paying off credit card debt (20%). Respondents, on average, think the recession began in March 2023 and will last until July 2025. Nearly 70% feel inflation negatively affects their financial plans. To manage their finances, 89% prioritize predictable monthly budgets and 63% want total purchase costs upfront. Flexible payment options are popular, with over half using “buy now, pay later” services, and 48% influenced by 0% APR offers. Affirm’s Vishal Kapoor emphasizes that financial control and transparency are vital during economic uncertainty.
Majority of Americans Believe US in Recession, Survey Shows
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